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Asian equity markets mostly rose on Tuesday, extending gains from the previous session and taking cues from a strong lead on Wall Street as worries over a wider Middle East conflict eased.
Japan (NKY:IND) +0.30%. The Japanese yen weakened to around 154.8 per dollar, hitting new 34-year lows and prompting a top official to issue new warnings against excessive currency moves.
In Japan, investors digested data showing manufacturing activity neared stability in April, while services activity expanded the most in 11 months.
Investors now look forward to the Bank of Japan’s policy decision later this week.
China (SHCOMP) -0.74%. China created 3.03 million new urban jobs in the first quarter of 2024, an official from the Human Resources Ministry said on Tuesday.
On Monday, the People’s Bank of China kept key lending rates unchanged amid stronger-than-expected first quarter GDP figures and efforts to stabilize the yuan, but signs of slowing activity in March raised market hopes for further policy easing.
Hong Kong (HSI) +1.89%.
India (SENSEX) +0.19%. The HSBC India Manufacturing PMI stood at 59.1 in April 2024, unchanged from a final in the previous month. The HSBC India Services PMI was up to 61.7 in April 2024 from a final 61.2 a month earlier.
Australia (AS51) +0.45%. Data showed that private sector growth in Australia increased the most in 2 years during April as manufacturing activity approached the break-even level, while services activity remained expansionary for the third consecutive month.
In the U.S., on Monday, all three major indexes ended higher, rebounding from their worst week of the year.
Investors were encouraged by easing tensions in the Middle East and looked ahead to a busy week filled with corporate earnings reports and important economic data.
U.S. stock futures eased on Tuesday after the major averages posted gains in the previous session, rebounding from their worst week of the year: Dow +0.13%; S&P 500 +0.08%; Nasdaq +0.02%.
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